Here are the cybercrime trends to watch out for in the next year

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Attacks against health sector data and the Internet of Things, social media crimes and ransomware campaigns are things we should watch out for in 2016, according to Veda’s latest cybercrime and fraud report.

The online security company says the healthcare industry already accounted for around 40% of data breaches in 2014, but Veda says this will worsen as cybercriminals target a sector with valuable data but “perceived weakness in their cyber defences”.

Healthcare data is valuable it can be used for identity theft and fraud. Unlike financial or other data, healthcare details rarely change. A boom in health insurance fraud has seen criminals will to pay up to $60 for an individual’s data.

Somewhat connected is the rise in the Internet of Things. As more people don wearable technology, and companies start incentivising users to track different metrics, another source of valuable data is being created. Veda says the concern is more privacy as weight, habits and other details are protected by “limited security features” of the service providers.

The next trend is the rise of ransomware – computer viruses that encrypt computers and force users to pay a ransom to get their files back. Ransomware are becoming more sophisticated, with newer versions threatening to post files onto the internet if the ransom is not paid. Some of these attacks are so sophisticated that the FBI recommends users pay the ransom.

Social media platforms reach billions of people daily, providing a perfect target for cybercriminals. Veda warns users look out for fake apps and “malvertising” – malicious advertising that can install malware or lead to harmful downloads. Not only is malvertising effective because of the scale it provides, but also because of the capability to microtarget – cybercriminals can direct their campaigns against the most profitable targets.

Overall, Veda warns there will be an increase in cybercrime in the coming year – continuing a recent trend, especially with new and lucrative targets being created every day.

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